Marc Molinaro: “For far too long, the U.S. digital asset ecosystem has been plagued by regulatory uncertainty. Consumers, yes, have…”

“For far too long, the U.S. digital asset ecosystem has been plagued by regulatory uncertainty. Consumers, yes, have fallen victim to scams, hacks, market manipulation, and bankruptcies after intermediaries misused customer funds and were unable to meet their obligations. Thanks to the leadership of Chairmen McHenry and Thompson, Representatives Dusty Johnson and French Hill, we finally have a framework, thanks to the work of many before us today that will set a regulatory foundation to protect consumers and innovators alike all the while ensuring future American leadership in this space. This bipartisan bill does, in fact, provide consumer protections in a functional, regulatory framework that will ensure the digital asset ecosystem is safe for investors. This bill accomplishes this by delivering the transparency consumers expect and need to make informed decisions and prevent brokers from engaging in manipulative practices that harm American investors. This regulatory certainty will also drive financial inclusion by promoting technology that can foster economic growth in underserved communities and expand opportunities for economic participation. Mr. Chair, I encourage my colleagues to support the bill.”